Principal Financial Group Inc. Buys 34,304 Shares of Evertec, Inc. $EVTC

Principal Financial Group Inc. lifted its stake in shares of Evertec, Inc. (NYSE:EVTC) by 10.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 349,945 shares of the business services provider’s stock after buying an additional 34,304 shares during the quarter. Principal Financial Group Inc.’s holdings in Evertec were worth $11,821,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EVTC. Richardson Financial Services Inc. raised its holdings in Evertec by 132.6% in the 3rd quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 435 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Evertec by 479.1% during the second quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider’s stock worth $49,000 after acquiring an additional 1,121 shares during the period. Blue Trust Inc. grew its position in shares of Evertec by 28.6% in the second quarter. Blue Trust Inc. now owns 1,958 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 436 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Evertec by 2,751.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,996 shares of the business services provider’s stock worth $72,000 after purchasing an additional 1,926 shares during the period. Finally, Diversified Trust Co acquired a new stake in Evertec during the 3rd quarter worth approximately $221,000. Institutional investors and hedge funds own 96.80% of the company’s stock.

Evertec Stock Down 2.4%

EVTC stock opened at $26.21 on Thursday. Evertec, Inc. has a 52 week low of $26.03 and a 52 week high of $38.56. The business has a 50-day simple moving average of $29.19 and a 200 day simple moving average of $31.28. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 1.59. The company has a market cap of $1.68 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.02 and a beta of 0.86.

Analyst Ratings Changes

A number of research analysts have commented on EVTC shares. Zacks Research lowered Evertec from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods reduced their target price on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Wall Street Zen lowered shares of Evertec from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Susquehanna cut their price objective on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Finally, Morgan Stanley decreased their target price on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 12th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.80.

Evertec Profile

Evertec, Inc (NYSE: EVTC) is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec’s suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.